AUDJPY approaching support, watch for breakout!

20 เม.ย. 2018

AUDJPY is approaching our first support at 82.69 (horizontal overlap support, 38.2% Fibonacci retracement). A breakout below this level might trigger a strong reaction pushing price down to our major support at 81.90 (horizontal overlap support, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure, in line with our bearish view.

RSI (89) is also seeing a bearish exit and we might see a corresponding drop in price.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.